Investments, tenth edition

 3.2 

How  Securities  Are  Traded 

63

Types of Markets

Direct Search Markets / Brokered Markets / Dealer 

Markets / Auction Markets

Types of Orders 

Market Orders / Price-Contingent Orders

Trading Mechanisms

Dealer Markets / Electronic Communication Networks 

(ECNs) / Specialist Markets

  Preface  

 xvi  

PART I

Introduction 1

CHAPTER 1

The Investment Environment  1

 1.1 

Real Assets versus Financial Assets  2

 1.2 

Financial  Assets 

3

 1.3 

Financial Markets and the Economy  5

The Informational Role of Financial Markets / 

Consumption Timing / Allocation of Risk / Separation of 

Ownership and Management / Corporate Governance 

and Corporate Ethics

 1.4 

The Investment Process  8

 1.5 

Markets  Are  Competitive 

9

The Risk–Return Trade-Off / Efficient Markets

 1.6 

The  Players 

11

Financial Intermediaries / Investment Bankers / Venture 

Capital and Private Equity